UK government announces new deals with Boeing

By: | Published: July 11, 2016 2:03 PM

British Prime Minister David Cameron announced a new partnership with Boeing on Monday, involving a contract to buy nine new P8 maritime patrol aircraft, additional aerospace research and development spending and new jobs in Britain.

Prime Minister David Cameron said today that Britain's shock vote to quit the European Union does not mean the country will play a smaller role in world affairs. (Reuters)Separately, the statement announced a further 365 million pounds’ (1 million) worth of aerospace research and development, to be jointly funded by industry and the government. (Reuters)

British Prime Minister David Cameron announced a new partnership with Boeing on Monday, involving a contract to buy nine new P8 maritime patrol aircraft, additional aerospace research and development spending and new jobs in Britain.

“Boeing and the Government intend to work together to build a new 100-million-pound ($129 million) P-8A operational support and training base at RAF Lossiemouth in Scotland, creating more than 100 new jobs,” Cameron’s office said in a statement ahead of his visit to the Farnborough air show.

The statement said Boeing had confirmed it would create 2,000 new jobs in Britain and increase its research and development spending, although no further details were given about those elements of the partnership.

Separately, the statement announced a further 365 million pounds’ ($471 million) worth of aerospace research and development, to be jointly funded by industry and the government.

“These are part of the work of the Aerospace Growth Partnership which will publish a new strategy at Farnborough setting out plans to maintain the UK aerospace sector’s leading position,” the statement said.

“This includes a new supply chain competitiveness charter signed by 11 major companies across the aerospace sector.”

Cameron was quoted as saying: “Whatever uncertainties our country faces, I want the message to go out loud and clear: the UK will continue to lead the world in both civil and defence aerospace.”

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition